The popularity of small taxpayers’ itemized lump-sum tax (KATA) grows unabated, with thousands of engineers, computer programmers, hairdressers and lawyers opting for one or other of these schemes. The small business lum-sum tax is HUF 50 000 (app. EUR 156 ) per month, up to HUF 1 million (app. EUR 3125) per month revenue. The […]
Author: Tamás Danku
The companies fulfilling the conditions or newly formed companies and branch of foreign companies are also able to choose this special taxpayer status since y2013. The tax rate of the small business tax (SBT) is 16% in y2016, 14% in y2017 and will 13% from y2018, the minimum tax base is the annual labor cost […]
The interest rate on late tax payments is twice of the central bank base rate (0,9%), which is currently only 1.8%. The interest rate is determined by the legislator in the latest bill on tax changes of 5.9 percent. The default interest rate for taxpayers classified as risky will be 8.85 percent from 2019.
Personal Income Tax Based on the rules valid from 2018, the employer can provide a total of 5 years of tax-exempt housing allowance for a worker whose residence is at least 60 kilometers away from the workplace or travels for three hours or more. In the first 24 months of employment, allowance may be 60 percent […]
March 15, 2017, National Day April 14, 2017, Good Friday April 17, 2017, Easter Monday May 1, 2017, Labour Day June 5, 2017, Pentecost August 20, 2017, St. Stephen’s Day October 23, 2017, Repiblic Day November 1, 2017, All Saints Day December 24, 2017, Christmas Eve December 25-26, 2017, Christmas Days January 1, 2018, New […]
Several VAT rates are used: it has been long overdue in the case of food, the reduction of VAT in hospitality has not really been thought out in detail, and the reduced VAT rate of the Internet is rather a political will than an economic decision. The reporting obligation concerning online billing is significantly tightened […]
The personal income tax has been amended on several points during the year as well. In the following part we present those changes in SZJA, KATA and EHO (health care contribution) that are considered the most important and have taken effect since 16 June 2016 or will take effect from 1 January 2017. SZJA (personal […]
Corporation tax was changed during the year, in order to carry out the “OECD BEPS Action Plan”, and in the autumn two amending packages were brought to the Parliament, which already include new rules for 2018 as well. Since the new rules of small business tax (KIVA) are easier to understand, it has become easy […]
From next year on it is only possible (recommended) to use billing software that complies with the new requirements and forwards the details of the issued invoices real-time to the tax authority. From January 2017 developers of billing software are required to incorporate this new function in their applications, and from the second half of […]
The prime minister of Hungary said the coporate tax will be 9% in Hungary for all corprate tax payer. The general corporate tax rate currently 19% and if the profit of is under HUF 500 million, the discounted rate is only 10%.